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Walt Disney Co has secured enough shareholder votes to defeat a challenge against its board mounted by Nelson Peltz's hedge fund Trian Fund Management, people familiar with the matter said on...
Disney defeated challenges from Trian and Blackwells in a shareholder vote. The board fight result will be disclosed soon. Share price surged 50%. New investments and board members announced, potentially giving Trian a financial victory.
Walt Disney Co has secured enough shareholder votes to defeat a challenge against its board mounted by Peltz's hedge fund, Reuters reported.
The entertainment giant’s past handling of Iger’s succession is a key criticism that Trian Partners has raised in pushing for board seats.
Trian Capital has waged a proxy fight against Disney to land two board seats. Disney shareholders will vote yes or no at Wednesday's board meeting.